At the turn of the millennium, peer-to-peer file sharing was a transformative innovation. Decentralised computer networks were poised to upend industries, reshape how we consumed media, cut out middlemen and empower individuals. Sound familiar?
Parallels with the new Web3 gold rush are difficult to miss. The key difference is that, back then, such disruption was widely viewed in apocalyptic terms. Sharing audio files was the equivalent of digital purse-snatching and, if it wasn’t stopped, would bring the entire music industry to its knees. Companies such as Napster, LimeWire, and Kazaa made a big impact but were ultimately squashed by an onslaught of legal action.
It came as some surprise, then, when some of the biggest names in digital piracy began their online comeback recently, attempting to establish themselves as major players in the new music ecosystem of Web3. Napster, BitTorrent, and LimeWire have all been purchased by members of the crypto crowd, with accompanying promises to revolutionize music just like they did in the good ol’ days.
Keep reading https://musictech.com/features/opinion-analysis/napster-limewire-winamp-new-life-in-web3/
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